FRB: H.4.1 Release--Factors Affecting Reserve Balances-- November 05, 2020

FEDERAL RESERVE statistical release

For Release at
4:30 P.M. Eastern time
November 5, 2020

In table 4, the footnote for the outstanding amount of facility asset purchases for MS Facilities LLC (Main
Street Lending Program) has been revised to reflect the inclusion of an allowance for loan losses in alignment
with generally accepted accounting principles. The allowance for loan losses was estimated based upon the
Main Street Lending Program holdings updated as of September 30, 2020, and does not indicate actual losses
experienced by the program. The estimated allowance for loan losses for the Main Street Lending program will be
updated on a quarterly basis going forward.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks November 5, 2020

1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Nov 4, 2020
Federal Reserve Banks Nov 4, 2020 Oct 28, 2020 Nov 6, 2019

Reserve Bank credit 7,110,243 - 14,651 +3,110,502 7,117,962
Securities held outright (1) 6,533,351 - 14,038 +2,902,984 6,540,758
U.S. Treasury securities 4,530,681 + 12,919 +2,348,432 4,538,087
Bills (2) 326,044 0 + 270,750 326,044
Notes and bonds, nominal (2) 3,866,102 + 12,175 +1,886,450 3,872,732
Notes and bonds, inflation-indexed (2) 296,476 + 514 + 173,705 297,163
Inflation compensation (3) 42,059 + 229 + 17,527 42,148
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,000,323 - 26,957 + 554,552 2,000,324
Unamortized premiums on securities held outright (5) 338,578 - 99 + 211,966 339,163
Unamortized discounts on securities held outright (5) -4,607 - 12 + 8,148 -4,672
Repurchase agreements (6) 1,000 0 - 226,103 1,000
Foreign official 1,000 0 + 1,000 1,000
Others 0 0 - 227,103 0
Loans 70,671 - 1,735 + 70,646 69,660
Primary credit 2,434 - 222 + 2,433 2,372
Secondary credit 0 0 0 0
Seasonal credit 1 - 3 - 24 0
Primary Dealer Credit Facility 249 + 13 + 249 263
Money Market Mutual Fund Liquidity Facility 5,518 - 109 + 5,518 5,504
Paycheck Protection Program Liquidity Facility 62,470 - 1,413 + 62,470 61,522
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,562 + 1 + 8,562 8,559
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 45,528 + 93 + 45,528 45,663
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 41,475 + 333 + 41,475 41,683
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,551 + 1 + 16,551 16,552
Net portfolio holdings of TALF II LLC (7) 12,193 + 431 + 12,193 12,266
Float -319 - 63 - 128 -102
Central bank liquidity swaps (8) 7,205 + 406 + 7,159 7,248
Other Federal Reserve assets (9) 40,056 + 33 + 11,521 40,183
Foreign currency denominated assets (10) 21,580 - 139 + 859 21,644
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,425 + 14 + 399 50,425

Total factors supplying reserve funds 7,198,489 - 14,776 +3,111,761 7,206,272

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Nov 4, 2020
Federal Reserve Banks Nov 4, 2020 Oct 28, 2020 Nov 6, 2019

Currency in circulation (11) 2,046,762 + 3,895 + 264,513 2,050,037
Reverse repurchase agreements (12) 200,935 + 6,043 - 93,336 193,037
Foreign official and international accounts 200,933 + 6,042 - 91,092 193,037
Others 2 + 1 - 2,244 0
Treasury cash holdings 49 + 6 - 147 45
Deposits with F.R. Banks, other than reserve balances 1,821,360 - 110,817 +1,380,753 1,819,499
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,621,346 - 59,587 +1,244,317 1,618,568
Foreign official 21,257 + 8 + 16,074 21,264
Other (13) 178,758 - 51,238 + 120,363 179,666
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 48,646 + 141 + 3,180 50,117

Total factors, other than reserve balances,
absorbing reserve funds 4,231,752 - 100,733 +1,668,963 4,226,735

Reserve balances with Federal Reserve Banks 2,966,737 + 85,956 +1,442,798 2,979,537

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements.
7. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury
contributions to the facility. Refer to note on consolidation below.
8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used
when the foreign currency is returned to the foreign central bank. This exchange rate equals the
market exchange rate used when the foreign currency was acquired from the foreign central bank.
9. Includes bank premises, accrued interest, and other accounts receivable. Also includes net
portfolio holdings of Maiden Lane LLC.
10. Revalued daily at current foreign currency exchange rates.
11. Estimated.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, designated financial market utilities, and deposits held by depository
institutions in joint accounts in connection with their participation in certain private-sector payment
arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account,
for services provided by the Reserve Banks as fiscal agents of the United States.
14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal
Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the
Money Market Mutual Fund Liquidity Facility of $1.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Week ended Change from week ended Nov 4, 2020
Nov 4, 2020 Oct 28, 2020 Nov 6, 2019

Securities held in custody for foreign official and
international accounts 3,415,539 + 20,598 - 3,326 3,415,462
Marketable U.S. Treasury securities (1) 2,976,306 + 22,414 + 3,271 2,976,913
Federal agency debt and mortgage-backed securities (2) 352,717 - 2,324 - 9,612 352,724
Other securities (3) 86,516 + 508 + 3,016 85,825
Securities lent to dealers 26,027 + 1,173 - 1,126 31,041
Overnight facility (4) 26,027 + 1,173 - 1,126 31,041
U.S. Treasury securities 26,027 + 1,173 - 1,126 31,041
Federal agency debt securities 0 0 0 0

Note: Components may not sum to totals because of rounding.

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.
Does not include securities pledged as collateral to foreign official and international account holders
against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.
2. Face value of federal agency securities and current face value of mortgage-backed securities, which
is the remaining principal balance of the securities.
3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed
securities, and commercial paper at face value.
4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, November 4, 2020
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years

Loans (1) 971 5,359 1,808 61,522 0 ... 69,660
U.S. Treasury securities (2)
Holdings 92,517 272,111 633,540 1,714,301 812,404 1,013,214 4,538,087
Weekly changes + 15,814 + 2,771 - 21,300 + 4,100 + 3,081 + 6,434 + 10,901
Federal agency debt securities (3)
Holdings 0 0 0 0 1,436 911 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 5 2,149 76,191 1,921,980 2,000,324
Weekly changes 0 0 + 1 + 110 - 37 - 54 + 19
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 0 0 0 ... ... ... 0
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 4,140 ... ... 4,140
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 1,200 451 ... ... 1,651
Loans held by TALF II LLC (8) 0 0 0 3,675 ... ... 3,675
Repurchase agreements (9) 1,000 0 ... ... ... ... 1,000
Central bank liquidity swaps (10) 1,538 5,711 0 0 0 0 7,248
Reverse repurchase agreements (9) 193,037 0 ... ... ... ... 193,037
Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary
Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity
Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New
York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal
Liquidity Facility LLC, and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS
Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition,
respectively, consistent with consolidation under generally accepted accounting principles.
2. Face value. For inflation-indexed securities, includes the original face value and compensation
that adjusts for the effect of inflation on the original face value of such securities.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Book value of commercial paper held by Commercial Paper Funding Facility II LLC.
6. Book value of the loan participations held by the MS Facilities LLC.
7. Book value of the municipal notes held by the Municipal Liquidity Facility LLC.
8. Book value of the loans held by the TALF II LLC.
9. Cash value of agreements.
10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used
when the foreign currency is returned to the foreign central bank. This exchange rate equals the
market exchange rate used when the foreign currency was acquired from the foreign central bank.

3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Nov 4, 2020

Mortgage-backed securities held outright (1) 2,000,324
Residential mortgage-backed securities 1,990,593
Commercial mortgage-backed securities 9,731

Commitments to buy mortgage-backed securities (2) 188,409
Commitments to sell mortgage-backed securities (2) 16,000

Cash and cash equivalents (3) 3

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
2. Current face value. Includes residential and commercial mortgage-backed securities. Residential
mortgage-backed securities generally settle within 180 calendar days and include commitments associated
with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities
generally settle within three business days.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5
and table 6.

4. Information on Principal Accounts of Credit Facilities LLCs
Millions of dollars
Credit Facilities LLCs: Wednesday Nov 4, 2020
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal Outstanding
amount amount of Treasury
of loan facility contributions
extended to asset and
the LLC (1) purchases (2)other assets (3) Total

Commercial Paper Funding Facility II LLC 0 0 8,559 8,559
Corporate Credit Facilities LLC 13,393 13,532 32,131 45,663
MS Facilities LLC (Main Street Lending Program) 4,234 4,140 37,543 41,683
Municipal Liquidity Facility LLC 1,651 1,651 14,901 16,552
TALF II LLC 3,753 3,675 8,591 12,266

Note: Components may not sum to totals because of rounding.

1. Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of
condition consistent with consolidation under generally accepted accounting principles. Refer to the note
on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC
upon settlement of the investment activity.
2. Outstanding amount of facility asset purchases:
a. For the Commercial Paper Funding Facility II LLC includes commercial paper at book value.
b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and
corporate bonds at book value. Asset balances
from trading activity are reported on a one-day lag after the transaction date.
c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations, net of an
allowance for loan losses updated as of
September 30, 2020, at face value.
d. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances
from trading activity may be reported on
a one-day lag after the transaction date.
e. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.
3. Includes short term receivables, interest and dividend receivables, and other assets of the
facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as
investments in nonmarketable Treasury securities and the residual portion which is held as cash and
cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are
eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6.
Amounts excluded are initially 15% of Treasury contributions to the credit facilities from the
following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC,
Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table
6.

5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Nov 4, 2020 Wednesday Wednesday
consolidation Oct 28, 2020 Nov 6, 2019

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,481 + 3 - 193
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 6,945,910 + 8,962 +2,974,463
Securities held outright (1) 6,540,758 + 10,919 +2,898,317
U.S. Treasury securities 4,538,087 + 10,901 +2,343,769
Bills (2) 326,044 0 + 260,034
Notes and bonds, nominal (2) 3,872,732 + 9,469 +1,891,737
Notes and bonds, inflation-indexed (2) 297,163 + 1,201 + 174,392
Inflation compensation (3) 42,148 + 230 + 17,606
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,000,324 + 19 + 554,548
Unamortized premiums on securities held outright
(5) 339,163 + 927 + 212,559
Unamortized discounts on securities held outright
(5) -4,672 - 83 + 8,109
Repurchase agreements (6) 1,000 0 - 214,160
Loans (7) 69,660 - 2,802 + 69,638
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,559 - 17 + 8,559
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 45,663 + 186 + 45,663
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 41,683 + 410 + 41,683
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,552 + 1 + 16,552
Net portfolio holdings of TALF II LLC (8) 12,266 + 503 + 12,266
Items in process of collection (0) 53 - 6 - 23
Bank premises 2,190 - 9 + 4
Central bank liquidity swaps (9) 7,248 + 449 + 7,202
Foreign currency denominated assets (10) 21,644 - 28 + 1,037
Other assets (11) 37,993 + 719 + 10,822

Total assets (0) 7,157,479 + 11,173 +3,118,036

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Nov 4, 2020 Wednesday Wednesday
consolidation Oct 28, 2020 Nov 6, 2019

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,001,134 + 5,087 + 264,399
Reverse repurchase agreements (12) 193,037 - 8,856 - 95,459
Deposits (0) 4,799,036 + 12,932 +2,830,255
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,979,537 + 32,281 +1,450,780
U.S. Treasury, General Account 1,618,568 - 34,471 +1,240,384
Foreign official 21,264 + 13 + 16,081
Other (13) (0) 179,666 + 15,108 + 123,009
Deferred availability cash items (0) 155 - 661 - 43
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 10,895 + 2,673 + 4,979

Total liabilities (0) 7,118,258 + 11,176 +3,118,132

Capital accounts
Capital paid in 32,396 - 3 - 97
Surplus 6,825 0 0
Other capital accounts 0 0 0

Total capital 39,221 - 3 - 97

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary
Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity
Facility, and other credit extensions.
8. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury
contributions to the facility. Refer to note on consolidation below.
9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used
when the foreign currency is returned to the foreign central bank. This exchange rate equals the
market exchange rate used when the foreign currency was acquired from the foreign central bank.
10. Revalued daily at current foreign currency exchange rates.
11. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, designated financial market utilities, and deposits held by depository
institutions in joint accounts in connection with their participation in certain private-sector payment
arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account,
for services provided by the Reserve Banks as fiscal agents of the United States.
14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal
Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the
Money Market Mutual Fund Liquidity Facility of $1.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, November 4, 2020
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Assets
Gold certificates and special drawing
rights certificates 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045
Coin 1,481 28 32 124 82 207 147 251 27 42 100 169 271
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 6,945,910 161,613 3,572,272 163,250 217,419 434,684 510,343 387,429 110,439 72,570 115,184 334,236 866,471
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,559 0 8,559 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 45,663 0 45,663 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 41,683 41,683 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,552 0 16,552 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 12,266 0 12,266 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 7,248 344 2,436 261 619 1,530 359 281 119 57 76 86 1,079
Foreign currency denominated
assets (4) 21,644 1,027 7,276 779 1,849 4,568 1,073 840 355 169 228 257 3,222
Other assets (5) 40,236 2,507 18,121 985 1,324 2,784 3,031 2,275 804 524 943 2,051 4,887
Interdistrict settlement account 0 - 36,506 + 282,017 - 24,813 + 66,682 + 123,902 - 119,257 - 32,165 - 21,969 - 13,200 - 23,105 - 48,641 - 152,945

Total assets 7,157,479 171,229 3,970,677 141,114 288,737 568,839 397,880 360,049 90,254 60,433 93,878 289,360 725,030

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, November 4, 2020 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Liabilities
Federal Reserve notes, net 2,001,134 61,643 667,315 55,426 93,212 138,509 279,797 129,607 59,208 33,012 54,726 168,386 260,292
Reverse repurchase agreements (6) 193,037 4,335 99,946 4,404 6,040 12,098 14,226 10,782 3,050 1,824 3,070 9,303 23,958
Deposits 4,799,036 64,046 3,109,747 79,581 185,742 409,235 101,296 217,534 27,016 24,946 35,388 110,527 433,979
Depository institutions 2,979,537 64,027 1,397,260 79,580 185,707 408,424 101,199 112,554 27,007 24,894 35,364 109,666 433,857
U.S. Treasury, General Account 1,618,568 0 1,618,568 0 0 0 0 0 0 0 0 0 0
Foreign official 21,264 2 21,238 1 3 8 2 2 1 0 0 0 6
Other (7) 179,666 16 72,682 0 32 803 95 104,979 8 52 24 861 115
Earnings remittances due to the U.S.
Treasury (8) 2,230 55 1,154 49 66 99 179 128 44 26 39 110 280
Treasury contributions to credit
facilities (9) 114,000 39,000 75,000 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 8,820 317 4,345 245 296 721 583 467 208 296 234 370 739

Total liabilities 7,118,258 169,396 3,957,508 139,706 285,356 560,662 396,081 358,518 89,526 60,104 93,457 288,696 719,249

Capital
Capital paid in 32,396 1,508 10,876 1,162 2,798 6,737 1,461 1,266 616 275 349 583 4,765
Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 7,157,479 171,229 3,970,677 141,114 288,737 568,839 397,880 360,049 90,254 60,433 93,878 289,360 725,030

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, November 4, 2020 (continued)

1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight
securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the
purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an
effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and
seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit
extensions.
2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.
3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals
the market exchange rate used when the foreign currency was acquired from the foreign central bank.
4. Revalued daily at current foreign currency exchange rates.
5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Also includes Net portfolio
holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.
6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
7. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by
depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
Account, for services provided by the Reserve Banks as fiscal agents of the United States.
8. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after
providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.
9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, and
Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion.

Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal
Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S
dollar-denominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On
May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at
issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility.
The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began extending loans to the
Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury
as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help
support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the
FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help ensure credit flows to small and
medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are used to secure the loan from the
FRBB.
The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with generally
accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated
to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and
table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this
table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Nov 4, 2020

Federal Reserve notes outstanding 2,157,430
Less: Notes held by F.R. Banks not subject to collateralization 156,296
Federal Reserve notes to be collateralized 2,001,134
Collateral held against Federal Reserve notes 2,001,134
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,984,897
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,541,758
Less: Face value of securities under reverse repurchase agreements 183,714
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,358,044

Note: Components may not sum to totals because of rounding.

1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright,
compensation to adjust for the effect of inflation on the original face value of inflation-indexed
securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.

Statistical releases